News stories from Wednesday December 29, 1982
Summaries of the stories the major media outlets considered to be of particular importance on this date:
- Disorders persisted in Miami and the city manager ordered the largely black, 100-square-block Overtown section a "restricted area," barring entrance to outsiders and closing all bars, liquor stores and gasoline stations. The violence began Tuesday night, when several hundred people took part in a melee after a young man was shot by a police officer. The suspect died last night and a a youth who the police said tried to loot a store was also fatally shot. [New York Times]
- Decisions involving Social Security must be made by President Reagan by mid-January because his proposed budget is to go to Congress on Jan. 31. To reach decisions on the question of how to restore the system to financial health, Mr. Reagan has been conferring with a handful of senior officials in almost total secrecy. [New York Times]
- President Reagan signed five bills, spent some time with his tailor and then flew to Palm Springs, Calif., to celebrate the New Year's holiday weekend with old friends and a few senior members of his administration. The only significant business on Mr. Reagan's agenda for the rest of the week is a meeting of an hour or two with Secretary of State George Shultz and William P. Clark, the national security advisor. [New York Times]
- The victims of dioxin spraying in Times Beach, Mo., anxiously heard a panel of medical, environmental and political officials discuss their plight, brought on first by floods and then compounded by news that a waste hauler had sprayed their streets with dioxin-tainted oil a decade ago. The main message of the specialists was that little is yet known about the long- term consequences of exposure to the highly toxic substance. [New York Times]
- The nation's thrift institutions, faced a year ago with the prospect of collapse, generally expect to return to profitability in the new year, thanks largely to a sharp drop in interest rates. But the institutions still face a difficult future as banking practices grow more and more competitive. [New York Times]
- Action involving a Teamster fund was ordered by a federal district judge in Chicago. He put into receivership and froze the assets of Allen Dorfman and his insurance company, which handles the union's Central States Health and Welfare Fund. The government accused Mr. Dorfman and the company of overcharging the fund $5 million for processing claims. [New York Times]
- Hugh Carey bade farewell to the Capitol at a final news conference as Governor of New York. Later in an interview, he stirred a final controversy by disclosing that, at his instruction, the state had sponsored television commercials touting New York's economy in an effort to blunt the advertising of the Republican candidate, Lewis Lehrman, in the closing weeks of the gubernatorial campaign. [New York Times]
- An Afghan rebel attack on a military airport Dec. 21-22 resulted in the destruction of 10 helicopters and damage to the runway and to buildings, according to reports from reliable informants reaching Pakistan. They said 130 Soviet and Afghan army troops had been killed or wounded in the assault. [New York Times]
- A Times of London dispute widened as management threatened to stop paying all 2,400 employees because of a confrontation involving 92 electricians that kept the newspaper from publishing for a sixth day. [New York Times]
- The number of Soviet Jews allowed to emigrate this year was the lowest since 1970, according to figures released by two American Jewish organizations. They said that the Soviet authorities granted emigration visas to only 2,670 Jews in 1982. [New York Times]
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Stock Market Report
Dow Jones Industrial Average: 1059.60 (+0.73, +0.07%)
Arms Index is the ratio of volume per declining issue to volume per advancing issue; a figure below 1.0 is bullish. | |||||||||||||||
| Market Index Trends | |||
|---|---|---|---|
| Date | DJIA | S&P | Volume* |
| December 28, 1982 | 1058.87 | 140.77 | 58.60 |
| December 27, 1982 | 1070.55 | 142.18 | 64.69 |
| December 23, 1982 | 1045.07 | 139.72 | 62.88 |
| December 22, 1982 | 1035.04 | 138.83 | 83.46 |
| December 21, 1982 | 1030.26 | 138.61 | 78.01 |
| December 20, 1982 | 1004.51 | 136.26 | 62.20 |
| December 17, 1982 | 1011.50 | 137.49 | 76.01 |
| December 16, 1982 | 990.25 | 135.30 | 73.69 |
| December 15, 1982 | 992.64 | 135.24 | 81.05 |
| December 14, 1982 | 1009.38 | 137.39 | 98.38 |